Amendment status not verified — confirm the current text below against the official source.
(1) The Corporation shall make provision for such reserve and other specially denominated funds, as the State Govemment may, from time to time, direct. (2) The management of the funds referred to in sub-section (1), the sums to be transferred from time to time to the credit thereof and the application of money comprised therein shall be determined by the Corporation. (3) None of the funds referred to in sub-section (1) shall, without the previous approval of the State Government, be utilised for any purpose other than that for which it was constituted. Grants, subventions, loans and advances to the Corpora- tion. Power of the Corporation to borrow. Deposits. Reserve and other funds. 117 The West Bengal Industrial Infra-structure Development Corporation Act, 1974. [West Ben. Act (Chapter 1V.—Finance, Accounts and Audit—Sections 23, 24.)